Investa’s FY18 net profit lifts 10.6% | Finance News Network

Investa’s FY18 net profit lifts 10.6%

Company News

by Anna Napoli

Investa Office Fund (ASX:IOF) has reported its net profit for the period attributable to members rose 10.6 per cent to $521.6 million for the 2018 financial year.

The Real Estate Investment company’s revenues from ordinary activities fell 4.7 per cent over the year, to just over $200 million.

Property Council Funds from operations lifted by 0.8 per cent to $184 million.

The company declared distributions per unit of 20.3 cents a half a per cent lift on corresponding period.

Investa says the increase in net profit was primarily due to almost $400 million of valuation uplifts resulting from revaluations undertaken in both December 2017 and May 2018.

Shares in Investa Office Fund(ASX:IOF) are trading flat at $5.17.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.